Summary
Prologis, Inc. (PLD) filed an 8-K on September 24, 2020, detailing amendments to its executive compensation plans. The Talent and Compensation Committee approved a form of amendment to the 2011 Notional Account Deferred Compensation Plan, allowing for the conversion of notional stock accounts into a structure that more closely resembles the company's Amended and Restated Deferred Compensation Plan. This conversion will be based on the stock price on the conversion date, with the value convertible into investment options including Prologis common stock or cash. Additionally, amendments were made to various form award agreements to align with the Prologis, Inc. 2020 Long-term Incentive Plan, which was previously approved by stockholders. These changes are primarily administrative and aimed at modernizing the structure and nomenclature of executive compensation arrangements. The filing includes these amended agreements as exhibits, providing transparency to investors regarding the company's executive incentive programs and their alignment with the overall equity compensation strategy.
Key Highlights
- 1Prologis amended its 2011 Notional Account Deferred Compensation Plan to allow conversion of notional stock accounts.
- 2Converted accounts will be valued based on the stock price on the conversion date.
- 3The converted account value can be invested in stock, cash, or other plan investment options.
- 4Amendments to form award agreements were made to align with the 2020 Long-term Incentive Plan.
- 5The 2020 Long-term Incentive Plan was previously approved by Prologis stockholders.
- 6The filing provides the form agreements as exhibits for investor review.
- 7These changes are primarily related to executive compensation structure and alignment.